Nuvo Research announces organizational changes
December 1, 2009
As a result of the recent U.S. Food and Drug Administration approval of Pennsaid® Topical Solution, Nuvo is making the following changes to reorganize its leadership team to better position the Company for future growth.
"The approval to market Pennsaid in the
Nuvo's Canadian head office personnel will focus primarily on commercial activities required to support the two drug development groups headed by
About Pennsaid and Pennsaid Plus
Pennsaid, Nuvo's lead product, combines a transdermal carrier (containing dimethyl sulfoxide, popularly known as "DMSO") with diclofenac sodium, a leading non-steroidal anti-inflammatory drug ("NSAID"), and delivers the active drug through the skin directly to the site of pain. Nuvo has signed a license agreement with Covidien for the marketing rights to Pennsaid in the U.S. Nuvo received approval from the U.S. FDA to market Pennsaid on
The immune system provides an essential defense to micro organisms, cancer and substances it sees as foreign and potentially harmful. WF10 focuses on supporting the immune system by targeting the macrophage, a type of white blood cell that coordinates much of the immune system, to regulate normal immune function. Research suggests that in some cases, WF10 may rebalance improperly functioning immune systems.
About Nuvo Research Inc.
Nuvo is primarily focused on the research and development of drug products delivered to and through the skin using its topical and transdermal drug delivery technologies, and on the development of its immune modulating drug candidate WF10. Nuvo's lead product is Pennsaid, a topical non-steroidal anti-inflammatory drug (NSAID), which is currently sold in
Covidien is a leading global healthcare products company that creates innovative medical solutions for better patient outcomes and delivers value through clinical leadership and excellence. Covidien manufactures, distributes and services a diverse range of industry-leading product lines in three segments: Medical Devices, Pharmaceuticals and Medical Supplies. With 2008 revenue of
This document contains forward-looking statements. Some forward-looking statements may be identified by words like "expects", "anticipates", "plans", "intends", "indicates" or similar expressions. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. Nuvo considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but caution that these assumptions regarding future events, many of which are beyond the control of the Company, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations, are discussed in the annual report, as well as in Nuvo's Annual Information Form for the year ended
For further information: about Nuvo, please contact: Media and Investor Relations, Adam Peeler, The Equicom Group Inc., Tel: (416) 815-0700 x225, email: [email protected]